SLM Solutions Group AG

  • WKN: A11133
  • ISIN: DE000A111338
  • Land: Deutschland

Nachricht vom 20.01.2021 | 21:36

SLM Solutions: For personal reasons, CEO Meddah Hadjar will not extend his contract and has agreed to leave SLM at the end of January // Sam O'Leary to take over as CEO // General Counsel André Witt to join the Management Board on an interim basis

DGAP-News: SLM Solutions Group AG / Key word(s): Personnel/Personnel
20.01.2021 / 21:36
The issuer is solely responsible for the content of this announcement.

SLM Solutions Group AG: For personal reasons, CEO Meddah Hadjar will not extend his contract and has agreed to leave SLM at the end of January // Sam O'Leary to take over as CEO // General Counsel André Witt to join the Management Board on an interim basis

Luebeck, January 20, 2021 - Meddah Hadjar, member of the Management Board of SLM Solutions Group AG ("SLM Solutions" or the "Company") and CEO has informed the Supervisory Board that he does not intend to prolong his contract as CEO of SLM Solutions and will leave the Company at the end of January 2021. Personal circumstances related to his family created a situation that does not allow him to continue to serve as CEO of SLM Solutions.

The Supervisory Board of SLM Solutions has unanimously approved the appointment of Sam O'Leary as the new CEO. Sam joined the Company in December 2019 as COO. His deep experience in the Additive Manufacturing industry, technologies and application has been instrumental to SLM Solutions, significantly improving the existing product portfolio as well as all its production related processes and overseeing the successful development of SLM's NXG XII 600, the world's leading and most productive powder bed laser fusion system. "Sam has played an integral part in successfully rebuilding SLM Solutions since he joined the Company. He is highly trusted among employees and customers alike and, as one of the global leaders in the industry, Sam is the best person to drive SLM Solutions' growth and excellence to the next level" commented Thomas Schweppe, Chairman of the Supervisory Board of SLM Solutions. In 2020 Sam agreed to extend his Management Board contract until November 2024. In addition to his current portfolio Sam will permanently take over the responsibilities for Corporate Development, Strategy and HR.

"I'm excited to take over the leadership at such an exciting time for the Company. With the changes to the organization and key processes we have made and the additional strong talent we brought into the Company over the past 18 months, we have been able to put SLM Solutions back on a path of success. Importantly we were able to add the industry defining NXG XII 600 to our product portfolio. The customer response we have received since its launch has exceeded even our high expectations" said CEO Sam O'Leary.

In terms of further additions to the management team the Supervisory Board has started a process to find suitable candidates for the role of a Chief Commercial Officer to take over some of Meddah Hadjar's other responsibilities permanently.

André Witt has been appointed to the Management Board temporarily until a further Management Board member has been appointed. André Witt currently serves as the Company's General Counsel.

Meddah will remain connected to SLM Solutions by becoming an advisor to the company and, based on the support of SLM Solutions' largest shareholders and subject to the nomination by the nomination committee of the supervisory board and confirmation by the shareholders' meeting, it is considered for Meddah to join the supervisory board of SLM Solutions Group AG.

The Supervisory Board very much thanks Meddah for his achievements at SLM Solutions and wishes him well.

SLM Solutions will publish results for FY 2020 on 25 March 2021. The Management Board reiterates its 2020 guidance provided on 12 August 2020.


About the company:

SLM Solutions Group AG from Lübeck is a leading supplier of metal-based additive production technology. The company's shares are traded on the Prime Standard of the Frankfurt Stock Exchange. The company focuses on the development, assembly and sale of machines and integrated system solutions in the field of Selective Laser Melting. SLM Solutions currently employs more than 400 people in Germany, France, Italy, the USA, Singapore, Russia, India and China. The products are used worldwide by customers in the aerospace industry, the energy sector, healthcare and the automotive sector.

Contact:

Dirk Ackermann
SLM Solutions Group AG
E-Mail: ir@slm-solutions.com



20.01.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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